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Arianne Phosphate Reports Financial Results for Q4 and YE 2015
Arianne Phosphate Reports Financial Results for Q4 and YE 2015 Arianne Phosphate R...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n\n\n\nArianne Phosphate Reports Financial Results for Q4 and YE 2015\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nArianne Phosphate Reports Financial Results for Q4 and YE 2015\nCanada NewsWire\nSAGUENAY, QC, March 31, 2016\n\n\n\nDAN: TSX-V (Canada)JE9N: FSE (Germany)DRRSF: OTC (USA) \n\n\n\nSAGUENAY, QC, March 31, 2016 /CNW/ - Arianne Phosphate (the \"Company\" or \"Arianne\") (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, reported its financial results for both the three and twelve month periods ended December 31, 2015. All amounts are in Canadian dollars unless noted.\n\n2015 Financial and Operational Highlights \n\n\nCompleted its permitting process by receiving the approval from the Cabinet of the Government of Quebec for the Lac à Paul project which gives Arianne the permission it needs to go ahead with its development, an important step in the process. The Company will continue its ongoing discussions with potential corporate, strategic and financial partners.\nRespected the deadlines for the port facilities project carried out by Port of Saguenay. The Environmental studies are underway for the Canadian Environmental Assessment Agency CEAA.\nThrough its cost reduction program, announced substantial savings from the original cost presented in its Feasibility Study. The anticipated cost is now of $US79 per tonne at an exchange rate of $0.95. This reduction is the result of an optimized mining plan to include additional resources it had proved up, as well as savings associated with a more streamlined metallurgical process.\nIdentified new measured and indicated resources on the Paul Eastern Extension in a new 43-101 mineral resource estimate (M+I) on the Paul zone. These results bring the Company closer to its goal of demonstrating that the mine will have a 50-year lifespan.*  \nSigned a Cooperation Agreement for the Lac à Paul Mining project with the First Nations Innu from Pessam...